A new Korean supergrouping?

The Korean telecoms world is on the verge of a revolution thanks to the sale of Powercomm.

LG Group and Japan's Softbank may be on the verge of a profound restructuring of the Korean telecoms sector.

In part, this is thanks to some very messy shareholdings.

LG owns 30% of Dacom, a competitor to KT in the long distance and international field. Meanwhile, Softbank has long been a major investor in broadband operator, Korea Thrunet - owning 20% - and more recently it took an undisclosed stake in Dacom.

Now Dacom and Thrunet have formed a consortium that will buy 45% of Powercomm from Kepco for W819 billion $678 million. This will mean that Dacom can now make use of Powercomm's national fiber optic network to offer end-to-end calls allowing it...

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